Guidelines for the exchange of mutilated/torn notes are available in our Master Direction on “Facility for Exchange of Notes & Coins” DCM (NE) No.G-5/08.07.18/2025-26 dated April 01, 2025 available on our website www.rbi.org.in under Notifications>Master Directions>Issuer of Currency. Mutilated notes can be exchanged at all bank branches in terms of Reserve Bank of India (Note Refund) Rules, 2009 [As amended by Reserve Bank of India (Note Refund) Amendment Rules, 2018].

The presence or absence of a serial number or other specific feature is not a determining factor when assessing damaged banknotes for value under the Reserve Bank of India (Note Refund) Rules, 2009 [as amended by Reserve Bank of India (Note Refund) Amendment Rules, 2018].

Banknotes returned from circulation are received at the Issue Offices of the Reserve Bank of India. The Reserve Bank of India, inter alia, uses highly sophisticated Currency Verification & Processing Systems (CVPS) machines and Shredding and Briquetting Systems (SBS) machines to verify these notes for genuineness, arithmetical accuracy and segregation of notes into fit for reissue and destruction of soiled (unfit) notes.

All Bank notes including Mahatma Gandhi (New) series notes with writing or colour/ oil stains on them continue to be legal tender, provided they are decipherable. Such notes can be deposited or exchanged in any bank branch.

However, a claim in respect of bank notes which carries any extrinsic words or visible representations intended to convey or capable of conveying any message of a political or religious character or furthering the interest of any person or entity will be rejected as per Reserve Bank of India (Note Refund) Rules, 2009 [As amended by Reserve Bank of India (Note Refund) Amendment Rules, 2018].

A suspected forged note, counterfeit note or fake note is any note which does not possess the characteristics of genuine Indian currency note.

A forged note can be identified on the basis of the security features which are present in a genuine Indian currency note. These features are easily identifiable by seeing, touching and tilting the note. The information regarding security features present in the Indian banknotes is available on the website www.rbi.org.in>>Currency Management>>paisaboltahai at https://website.rbi.org.in/web/rbi/rbi-kehta-hai/know-your-banknotes

Counterfeiting banknotes / using forged or counterfeit banknotes as genuine banknotes / possession of forged or counterfeit banknote / making or possessing instruments or materials for forging or counterfeiting banknotes/making or using documents resembling banknotes are offences under various sections including Sections 178 to 182 the Bhartiya Nyaya Sanhita (BNS), 2023 and are punishable in the Courts of Law by fine or imprisonment ranging from seven years to life imprisonment or both, depending on the offence.

The Government of India has framed Investigation of High-Quality Counterfeit Indian Currency Offences Rules, 2013 under Unlawful Activities (Prevention) Act (UAPA), 1967. The Third Schedule of the Act defines High Quality Counterfeit Indian Currency Note. Activity of production, smuggling or circulation of High-Quality Counterfeit Indian Notes has been brought under the ambit of the BNS, 2023.

Mere possession of a forged note does not attract punishment. Possession of any forged or counterfeit banknotes, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine are offences under Section 180 of the Bhartiya Nyaya Sanhita (BNS), 2023 and are punishable in the Courts of Law by fine or imprisonment upto seven years or both.

The Reserve Bank of India has been organizing training sessions on the authentication of banknotes security features for people handling significant amounts of cash like banks/consumer forums/merchant associations/educational institutions/police professionals. Apart from the training sessions, information on security features of banknotes is also available on the Bank’s website at https://website.rbi.org.in/web/rbi/rbi-kehta-hai/know-your-banknotes.

Coins in India are presently being issued in denominations of 50 paise, one rupee, two rupees, five rupees, ten rupees and twenty rupees. Coins up to 50 paise are called 'small coins' and coins of Rupee one and above are called 'Rupee Coins'. Coins can be issued up to the denomination of ₹1000 under The Coinage Act, 2011.

Twenty-five (25) paise coins have been withdrawn from circulation with effect from June 30, 2011, vide gazette notification No. 2529 dated December 20, 2010, and are, therefore, no more legal tender. Coins of denominations below 25 paise were withdrawn from circulation much earlier. All other denominations of coins of various size, theme and design minted by Government of India under The Coinage Act, 2011 and issued by RBI for circulation from time to time, continue to remain legal tender.

RBI has not prescribed any limit for coin deposits by customers with banks. Banks are free to accept any amount of coins from their customers.

The One Rupee notes issued under the Coinage Act, 2011 are legal tender and included in the expression Rupee coin for all the purposes of the Reserve Bank of India Act, 1934. Since the rupee coins issued by Government constitute the liabilities of the Government, one rupee Note is also liability of the Government of India.

Yes. Different designs of ₹10 coins are currently in circulation. All coins of ₹10 denomination minted from time to time by the Government of India (with/without the Rupee symbol) are legal tender. For more details kindly see our Press Release issued in this regard which is available at the following link www.rbi.org.in>>Issuer of currency>>Press Release>>January 17, 2018. https://website.rbi.org.in/en/web/rbi/-/press-releases/rbi-reiterates-legal-tender-status-of-%E2%82%B9-10-coins-of-different-designs-42887.

The Government of India is responsible for the designing and minting of coins in various denominations.

The Government of India decides on the quantity of coins to be minted on the basis of indent received from the Reserve Bank on yearly basis.

Coins of denominations 50 paise, one rupee, two rupees, five rupees, ten rupees and twenty rupees continue to be legal tender.

Reserve Bank of India has been issuing press releases from time to time advising the members of public to accept coins as legal tender in all their transactions without any hesitation. These press releases are available on our website www.rbi.org.in under Currency Management > Press release at the following links:

https://website.rbi.org.in/en/web/rbi/-/press-releases/public-can-continue-to-accept-%E2%82%B9-10-coins-as-legal-tender-rbi-38636

https://website.rbi.org.in/en/web/rbi/-/press-releases/rbi-reiterates-legal-tender-status-of-%E2%82%B9-10-coins-of-different-designs-42887

https://website.rbi.org.in/en/web/rbi/-/press-releases/public-can-continue-to-accept-all-the-coins-as-legal-tender-rbi-47414

Further, RBI has been conducting awareness campaigns in Print, SMS and social media and also disseminates awareness on coins through “RBI says’’ and “RBI Kehta Hai’’ from time to time.

Besides, the Reserve Bank has instructed the banks to accept coins for transactions and exchange at all their branches.

For commemorative coins, you may refer to the website of SPMCIL at http://www.spmcil.com or contact SPMCIL.

Customers aggrieved with the services provided by the banks and a related grievance not resolved to the satisfaction of the customers, or not replied to within a period of 30 days by the bank may approach the RBI Ombudsman under ‘The Reserve Bank - Integrated Ombudsman Scheme, 2021’. Complaints can be filed online on https://cms.rbi.org.in  and also through the dedicated e-mail or sent in physical mode to the ‘Centralised Receipt and Processing Centre’ set up at Reserve Bank of India, 4th Floor, Sector 17, Chandigarh - 160017 with the bank/ postal receipts as proof for necessary action.